Winsome Resources Limited · ASX:WR1
Winsome Resources — Investor Presentation (September 2024)
35 slides from Winsome Resources's investor presentation, Sep 17, 2024
Slide 1: Adina Lithium Project Scoping Study
ASX: OTCQB: FSE: WR1 WRSLF 4XJ ADINA LITHIUM PROJECT SCOPING STUDY On the Pathway to Canadian Lithium Production INVESTOR PRESENTATION | SEPTEMBER 2024
Slide 2: Important and Cautionary Notes
IMPORTANT AND CAUTIONARY NOTES This presentation is not a prospectus and has been prepared and Although the Company believes that the expectations reflected in such The Company confirms it is not aware of any new information or data issued by Winsome Resources Limited (the “Company") to inform forwa
Slide 3: Company Overview
COMPANY OVERVIEW Adina Lithium Project (100% OWNED - STUDY NOW COMPLETED) 100% owner of a Tier 1 asset in a leading Near surface, hard rock spodumene lithium low-risk mining jurisdiction deposit with low strip ratio of 1 :1 for Phase 1 open pit 21-year Life of Mine with 78Mt @ 1.15% Located 60km nor
Slide 4: 2024 Adina Scoping Study Highlights
2024 ADINA SCOPING STUDY HIGHLIGHTS Life of Mine Production NPV1 Start Up CAPEX3 21 Years 282,000tpa2 C$1,003M US$259M (US$743M) Low Phase 1 Average annual 8% real, post-tax Capital efficient strip ratio prodn capacity (US$1,375/t, SC5.5% basis) versus peers 1:1 SC5.5% Payback Period Existing Renard
Slide 5: Renard Operation - Process Plant and Infrastructure
RENARD OPERATION - PROCESS PLANT AND INFRASTRUCTURE Road to Chibougamau 2.2 Mtpa Crushing and Major Ports Direct tip to and DMS Crushing Circuit Processing Plant 16MW LNG Maintenance ROM Pad Tomra Ore Power Plant Workshop Sorter 330 Person Mine Offices Camp and Facilities Air-Strip 10km from Renard
Slide 6: Adina Lithium Project
ADINA LITHIUM PROJECT Proposed Road from Adina to Renard Renard Operation 60km from Adina To Mine Camp, Power Adina Lithium Plant and Laydown Area Mineral Resource 78Mt @ 1.15% Li2O Adina Lithium Deposit Outcrop Low Strip Ratio 1 : 1 Waste to Ore (Phase 1) ASX:WR1 - FSE:4XJ - OTCQB:WRSLF | INVESTOR
Slide 7: Corporate Snapshot
CORPORATE SNAPSHOT Winsome Resources Limited (ASX:WR1) (13 Sept 2024) Leadership with project development & operations background A$45M A$112M 216.3M BOARD Cash at Bank Market Cap ($0.52) Issued Capital (30 June 2024) Stephen Biggins Qingtao Zheng Non-Executive Chair Non-Executive Director Chris Eva
Slide 8: Paving the Pathway to Production
PAVING THE PATHWAY TO PRODUCTION Continuing to methodically advance key project milestones November 2021 Listed on the ASX October 2022 Adina Lithium Project Discovery 107m @ 1.34% from 2m December 2023 Adina Maiden Mineral Resource (MRE) of 59Mt @ 1.12% (100% Inferred category) 1 April 2024 Exclusi
Slide 9: Adina Project Timeline
ADINA PROJECT TIMELINE Indicative timeline demonstrates potential time benefits of Renard acquisition in addition to CAPEX savings 2024 2025 2026 2027 2028 2029 Adina Lithium Project Milestone 2H 2024 1H 2025 2H 2025 CY CY CY CY MRE Upgrade Adina Lithium Project Studies Option to Acquire Renard Oper
Slide 10: Advancing Adina in Line with Market
ADVANCING ADINA IN LINE WITH MARKET Adina can reduce the impending supply deficit Demand Global Lithium Market Balance, 2024, kt LCE1 Surplus Deficit 13% forecast CAGR for LCE demand to 20341 Adina Forecast Production driven by stronger GHG regulations and improving EV adoption 200 150 2.5x current
Slide 11: A Decade of Lithium Project Investment
A DECADE OF LITHIUM PROJECT INVESTMENT Adina has the attributes of a high quality hard-rock lithium project... Project Pilgangoora Bald Hill Grota do Cirilo Finniss Kathleen Valley Salinas Moblan Shaakichiuwaanaan Adina Owner (at Date of Study) Pilbara Tawana Sigma Core Liontown Latin Sayona Patriot
Slide 12: 2024 Adina Scoping Study - Outcomes
2024 ADINA SCOPING STUDY - OUTCOMES Strong project economics, low start up capex and competitive operating cost6 • NPV8 (post-tax) of C$1,003 million (US$743 million) and IRR 43% assuming: • Spodumene Concentrate price of US$1,375/t1 (SC5.5% basis) • Start Up CAPEX of US$259m2 (based on detailed cos
Slide 13: 2024 Adina Scoping Study - Incremental NPV
2024 ADINA SCOPING STUDY - INCREMENTAL NPV Robust NPV1 under various commodity prices with substantial upside NPV C$2,880M US$ US$2,133M C$2,517M US$1,864M C$2,154M US$1,595M C$1,003M C$1,791M US$1,326M US$743M C$1,421M US$1,053M C$665M US$494M C$263M US$195M 1,000 1,200 1,400 1,600 1,800 2,000 2,20
Slide 14: 2024 Adina Scoping Study - Opportunities
2024 ADINA SCOPING STUDY - OPPORTUNITIES Opportunities to expand production at Renard and at Adina • Additional plant capacity opportunities at Renard • Nameplate throughput for Renard process plant 2.2Mtpa vs. Scoping Study throughput 1.7Mtpa (~80% of capacity) • Increase to nameplate or higher via
Slide 15: 2024 Adina Scoping Study - Opportunities
2024 ADINA SCOPING STUDY - OPPORTUNITIES Scoping study identifies additional value enhancing work programmes • Clean energy options to power Renard and Adina • Investigate options to diversify energy sources away from LNG and diesel with the goal for renewables to provide some or all the power requi
Slide 16: The Renard Opportunity - Next Steps
THE RENARD OPPORTUNITY - NEXT STEPS The Renard opportunity - next steps and key decision points 1. Execution of Option Agreement 2. During the Option Period 3. Renard Investment decision Initial management and technical Assess transaction structure Negotiate transaction agreement consultant site vis
Slide 17: The Quebec EV Battery Ecosystem
THE QUEBEC EV BATTERY ECOSYSTEM North American electrification landscape LiOH processing facility Theme Evidenced By 50 GWh, Texas Hard rock Li project 35 GWh, Nevada Winsome project Global peers at various 10 GWh, California 1 stages in the EV supply chain are prepared to make Québec early-stage in
Slide 18: ESG Roadmap
ESG ROADMAP Accomplishments Strategic focus Current initiatives & outlook Developed ESG governance structure and policies Strategic focus of Winsome’s ESG program is to Develop inaugural TCFD aligned disclosers embrace access to Québec’s extensive Published ESG strategy integrating global hydropower
Slide 19: Investment Highlights
INVESTMENT HIGHLIGHTS Adina is a Quality Renard Option Provides Project is Financeable - Renard Offers Low Risk Resource Infrastructure Solution Low Capital Cost Pathway to Production • One of the largest • A clear pathway to • Adina has attributes of a • Defined Provincial and undeveloped hard rock
Slide 20: Annexures
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Slide 21: 2024 Adina Scoping Study - Year Production Profile
2024 ADINA SCOPING STUDY - 10 YEAR PRODUCTION PROFILE Production profile - First 10 years 350 332 100% 326 318 313 309 288 90% 290 281 300 269 258 80% 250 70% 70% 70% 71% 71% 70% 70% 68% 68% 69% 69% Tonnage (kt) 67% 60% 200 50% 150 40% 100 30% 52 20% 50 10% 1.31% 1.42% 1.45% 1.49% 1.52% 1.47% 1.29%
Slide 22: Adina Lithium Project - 2024 Scoping Study Opex
ADINA LITHIUM PROJECT - 2024 SCOPING STUDY OPEX Competitive operating costs ensure healthy operating margins Average Operating Costs1 USD/t Spodumene Price1 vs. C1 Operating Cost1,3 & All-In Sustaining Cost (AISC)1,3 (US$/t) Ore Haulage (Adina to Renard) 50 1,500 1,400 Mining Costs 156 1,300 Process
Slide 23: Adina Lithium Project - 2024 Scoping Study Capex
ADINA LITHIUM PROJECT - 2024 SCOPING STUDY CAPEX Winsome is developing one of the world’s most capital-efficient lithium projects Start Up CAPEX1,3 USD M Total Life of Mine CAPEX (US$m)2 Adina Mine Site 113 200 Adina - Renard Road 62 180 160 Renard Site (Plant Modifications) 67 Sustaining Capital Co
Slide 24: Adina Lithium Project - 2024 Scoping Study Capex
ADINA LITHIUM PROJECT - 2024 SCOPING STUDY CAPEX Winsome is developing one of the world’s most capital-efficient lithium projects Adina Mine Site CAPEX Adina mine site works to utilise phased approach to minimise initial CAPEX Detailed site planning ensures compliance with regulations & site conditi
Slide 25: Adina Lithium Project - Simple Process Flowsheet
ADINA LITHIUM PROJECT – SIMPLE PROCESS FLOWSHEET Simple processing means lower cost and lower start up risk Image: Spodumene Concentrate Product from Adina • Spodumene Concentrate can be Produced using DMS • Simple mineralogy - lithium contained in spodumene which separates well from lighter quartz
Slide 26: The Renard Opportunity - Infrastructure
THE RENARD OPPORTUNITY - INFRASTRUCTURE Over C$900 million of capital invested in Renard Project, processing facilities and other infrastructure by previous operator Figure 1. Access Road and Accommodation Camp (capacity for 330 pax) Figure 2. Processing Facility Figure 3. Crushing Circuit Figure 4.
Slide 27: The Renard Opportunity - Transaction Summary
THE RENARD OPPORTUNITY - TRANSACTION SUMMARY Key option agreement terms1 Key transaction terms1 (if exercised) Initial Option Basis of Acquisition • C$4m fee (payable in cash) • Acquired on a ‘cash and debt-free’ basis • Option period expires 30 Sep 2024 (Winsome can elect to extend) • Excludes diam
Slide 28: Globally Significant Lithium Resource
GLOBALLY SIGNIFICANT LITHIUM RESOURCE One of the largest hard rock spodumene Measured & Indicated Mineral Resources in the Americas 2.0% PAK 1.0Mt LCE 1.8% Shaakichiuwaanaan Grota do Cirilo 2.9Mt LCE Brazil Lake Kings Mountain 3.3Mt LCE 0.2Mt LCE 1.6Mt LCE 1.6% Galaxy Root Moblan Salinas (Latin) 1.7
Slide 29: Adina Lithium Project - Mineral Resource
ADINA LITHIUM PROJECT - MINERAL RESOURCE Adina Lithium Project Mineral Resource Statement 1 Zone Indicated Inferred Total Tonnes Li2O Contained Tonnes Li2O Contained Tonnes Li2O Contained (Mt) (%) LCE (Mt) (Mt) (%) LCE (Mt) (Mt) (%) LCE (Mt) Main 28.4 1.19 0.84 8.7 1.37 0.29 37.1 1.23 1.13 Footwall
Slide 30: Adina Lithium Project - Low Strip Ratio
ADINA LITHIUM PROJECT - LOW STRIP RATIO High grade zones accessible by open pit conventional mining, near surface mineralisation means low strip ratio Strip Ratio Pit Phase (W : O) Phase 1 1.0 Phase 2 4.3 Phase 3 8.1 Total 5.3 A Phase 3 (Ultimate) Open Pit Design A B Phase 3 Phase 1 Phase 2 High Gra
Slide 31: Adina Mineral Resource and Growth Potential
ADINA LITHIUM PROJECT - 2024 SCOPING STUDY CAPEX Winsome is developing one of the world’s most capital-efficient lithium projects Adina Mineral Resource Total of 186 diamond drill holes for 57,756m incorporated into MRE Adina JORC MRE stands at 77.9Mt at 1.15% Li2O (Indicated & Inferred) 78% or 61.4
Slide 32: A Team with Hard Rock Lithium Experience
A TEAM WITH HARD ROCK LITHIUM EXPERIENCE Stephen Biggins Chris Evans Dr Qingtao Zeng Justin Boylson NON-EXECUTIVE CHAIRMAN MANAGING DIRECTOR NON-EXECUTIVE DIRECTOR NON-EXECUTIVE DIRECTOR Mr Biggins was until recently Managing Director of Core Mr Evans has a strong Lithium background with close to Dr
Slide 33: Supporting Data (for Slide 11)
SUPPORTING DATA (FOR SLIDE 11) Adina has the attributes of a high quality hard-rock lithium project C1 Operating Start Up Average Property Name Original Owner Stage Mine Life Source6 Cost2,4 CAPEX2 Production5, 7 Units US$/t1 US$m1 Years ktpa Pilgangoora Pilbara Minerals Production 207 168 36 314 DF
Slide 34: Supporting Data (for Slide 28)
SUPPORTING DATA (FOR SLIDE 28) One of the largest hard rock spodumene Measured & Indicated Mineral Resources in the Americas Measured Indicated Measured & Indicated Contained Contained Contained Property Name Owner Stage Resource Grade Resource Grade Resource Grade Source Lithium Lithium Lithium Uni
Slide 35: Perth Office
ASX: OTCQB: FSE: WR1 WRSLF 4XJ PERTH OFFICE Address: Level 1, 16 Ord Street, West Perth WA 6005 Email: administration@winsomeresources.com.au
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